JOBS REPORT CRUSHES EXPECTATIONS

According to the latest report from the Bureau of Labor
Statistics, nonfarm payrolls grew by 321,000 in November,
crushing expectations for 230,000.

This is the biggest single-month gain in payrolls since January
2012.

The unemployment rate was unchanged at 5.8%.

This marks the 10th straight month that the US economy saw
payrolls grow by more than 200,000, the longest such streak since
1995.

October's report was also revised higher, from an initial reading
of 214,000 job gains to 243,000.

According to the BLS' release:
"In November, job growth was widespread, led by gains in
professional and business services, retail trade, health care,
and manufacturing."

Payrolls grew by 50,000 in the retail sector in November, with
healthcare adding 29,000 jobs, manufacturing adding 28,000 jobs,
and professional and business services jobs growing by
86,000.

The "U-6" unemployment rate, which also includes those who are
working part time for economic reasons and those marginally
attached to the labor force, fell to 11.4% from 11.5%.

The labor force participation rate also held steady at
62.8%.

Wage gains were a bit better than expected, with wages growing
0.4% month-on-month, better than expected. Year-over-year, wage
growth came in at 2.1%, which was in line with expectations. The
average hourly wage for all private nonfarm employees was $24.66.

The average weekly hours worked totaled 34.6, in line with
expectations.

In addition to October's upward revision, September's gains were
also revised up to 271,000 from 256,000.